RMB Devaluation Mainland Tourists Gather To Fly To Hongkong To Buy Luxury Brands

The momentum of Hongkong's retail industry has not diminished, making mainland retailers envy.

In June,

In the first 5 months of the year, the momentum continued to record double-digit growth of 12%, slightly slower than the first two months of the two quarter, but slower than 1%.

A spokesman for the Hongkong census and Statistics Department said the current labour force

Tight local consumption sentiment remained good while visitor arrivals continued to grow steadily, so retail sales continued to have double-digit growth in June.

Looking forward to the future, the employment and income situation is good and the tourism industry in Hong Kong is booming. In the short term, it should continue to support the retail industry.

Because of the shadow of trade war and the intensification of Sino US confrontation, the sharp fluctuation of the Sino Hong Kong stock market in the two quarter has made investors unhappy. Meanwhile, the devaluation of the renminbi has also restrained the consumption of Chinese mainland tourists, but Hongkong has not been able to do so.

In the 5 and June, there was no obvious differentiation. It shows that after two years of low level, Hongkong has become the first choice for mainland consumers, especially luxury goods.

In June, the number of mainland visitors jumped 17.3% to 3634089, increasing the growth rate in 1-6 months from 12.7% in 1-5 to 13.4%.

In the first half of 2018, the total number of visitors to Hong Kong increased by 30606039, an annual increase of 10.1%, an increase of 12.8% in June, while mainland Chinese accounted for 1-6 of visitors in 1-6 months.

The most beneficial thing for mainland tourists to rush in is undoubtedly.

In June, the strong performance of Hongkong's retail market continued to be driven mainly by luxury goods. Sales of jewellery, watches and clocks and expensive gifts jumped 27.8%. In the case of a slight slowdown in the overall retail industry, the growth rate in the 4 and May categories increased by 24.6% and 23.8% respectively.

Sales of department stores rose by 15% in June, slower than in 4 and May; the value of clothing sales increased by 5.4%; the annulus ratio slowed down more obviously; drugs and cosmetics increased by 18.3%; sales of footwear, related products and other clothing accessories continued to improve, while June increased by 11.4%; and sales of optical stores increased by 6.9%.

In June, the volume of retail sales in Hongkong increased by 9.8% annually, with an interim estimate of 11.8% in the first half of the year, while the retail value increased by 13.4%.

By category, in the first half of the year, jewelry

Sales of watches and clocks and expensive gifts surged 23.5%; sales of department stores rose 14.1%.

The value of sales increased by 11.5%, the annulus ratio slowed down more obviously; the increase in drugs and cosmetics was 17.5%; sales of footwear, related products and other clothing accessories increased by 14.3%; and the sales of optical stores increased by 7.4%.